Exactly — that reaction makes sense from a structural point of view.

Price dipped into a clearly defined support zone, grabbed liquidity, and immediately rejected lower levels. That kind of wick + bounce usually signals that sellers are exhausted and buyers are defending the range. After that sweep, $LUNA started shifting momentum back upward, aiming for the upper boundary of the range where price was previously rejected.

As long as this support holds, the move you marked toward resistance remains valid.

Trade Bias: Long

Price is respecting the range structure and rotating from demand to supply.

Trade Setup

Entry: 0.1075 – 0.1090

Target 1: 0.1120

Target 2: 0.1150

Target 3: 0.1168 – 0.1170

Stop Loss: 0.1048